Start here if you're new
what it is
Security Federal is a small South Carolina bank that takes deposits, makes loans, and sells wealth and insurance services.
how it gets paid
Last year Security Federal made $77M in revenue. real estate lending was the main engine at $38M, or 49% of sales.
what just happened
Fourth-quarter EPS came in at $0.94, down from $1.12 a year earlier.
At a glance
B+ balance sheet — decent shape, but not bulletproof
30/100 earnings predictability — expect surprises
9.6x trailing p/e — the market's not buying it — or you found a deal
1.8% dividend yield — cash in your pocket every quarter
$2.57 fy2025 eps est
xvary composite: 55/100 — below average
What they do
Security Federal is a small South Carolina bank that takes deposits, makes loans, and sells wealth and insurance services.
This bank wins the old-fashioned way: 258 employees serve one local market in South Carolina. You can keep your checking account, mortgage, trust account, and insurance with one institution, which makes leaving annoying in plain English. Its 0.65 beta says the stock usually moves less than the market, which fits a relationship-heavy bank.
How they make money
$77M
annual revenue
real estate lending
$38M
commercial and consumer lending
$18M
deposit service fees
$9M
insurance and brokerage
$7M
trust and wealth management
$5M
The products that matter
local real estate lending
Commercial Real Estate Loans
largest relationship: $16.3M
this is where a community bank can make real money and real mistakes. the largest single borrower relationship is $16.3M, which matters more at a $113M market cap bank than it would at a regional giant.
credit watch
deposit funding base
Core Deposit Accounts
supports $58.9M of spread income
deposits fund the loan book and power the $58.9M net interest income line. if deposit costs rise faster than loan yields, profitability gets squeezed fast.
margin driver
liquidity and yield management
Investment Securities Portfolio
inside a $1.61B asset base
for a bank with $1.61B in assets, the securities portfolio is part earnings tool, part liquidity buffer. it helps manage cash — but it does not rescue the story if lending margins weaken.
balance sheet lever
Key numbers
9.6x
trailing p/e
P/E → price-to-earnings → what you pay for each dollar of profit. You are paying less than 10 times trailing earnings for a bank with a 1.8% yield.
$2.57
fy2025 eps est
EPS → earnings per share → profit attached to each share you own. The estimate is below $2.77 in 2024 and $3.14 in 2023, so the cheap multiple has a reason.
$15M
long-term debt
Long-term debt → money owed over years → fixed obligations that do not care how your quarter went. It is 12% of capital, which is manageable but not zero.
1.8%
dividend yield
Dividend yield → cash you get back each year as a percent of the stock price → a modest payout while you wait.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 85 / 100
- long-term debt $15M (12% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for SFDL right now.
source: institutional data · return history unavailable
What just happened
profit declined
Fourth-quarter EPS came in at $0.94, down from $1.12 a year earlier.
Full-year EPS fell to $2.77 in 2024 from $3.14 in 2023, and the FY2025 estimate sits at $2.57. Translation: the stock is cheap, but the earnings line is moving the wrong way.
$77M
FY revenue (annual)
$0.94
eps
n/a
n/a
the number that mattered
The key number is $2.57, the FY2025 EPS estimate, because it is 7.2% below 2024's $2.77 and keeps the earnings downtrend alive.
source: company filings and quarterly history, 2025
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is concentrated commercial real estate exposure in a very local loan book.
med
concentrated commercial real estate exposure
the largest single borrower relationship is $16.3M across two commercial real estate loans. at a $113M market cap bank, that is not background noise.
credit trouble in one local pocket can hit earnings and investor confidence at the same time.
med
net interest margin compression
$58.9M of revenue comes from net interest income. if deposit costs stay elevated or loan yields soften, the 23.2% profit margin can compress quickly.
this risk pressures the main earnings engine, not some side business.
med
thin earnings visibility
the predictability score is 30/100. in human-speak: quarterly numbers can move around enough that a cheap multiple does not automatically mean low risk.
valuation can stay cheap longer than you want if earnings keep arriving unevenly.
between the $16.3M borrower concentration, the $58.9M dependence on net interest income, and a 30/100 predictability score, your risk is simple: this bank has less margin for error than the valuation makes it look.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
net interest income after q3's jump
$58.9M is the number carrying this snapshot. if that starts rolling over, the cheap multiple stops looking interesting.
risk
the $16.3M commercial real estate borrower
for a bank this small, one outsized relationship deserves ongoing attention. asset quality commentary matters more than polished management language.
calendar
next earnings release and annual filing
you want updated loan quality data, deposit cost trends, and confirmation that the stronger quarter was not just a temporary spread tailwind.
trend
book value versus share price
book value per share was $34.02 while the stock was $33.86. if book keeps compounding and the stock does not, that's where the case gets more interesting.
Analyst rankings
earnings predictability
30 / 100
in human-speak, analysts do not see this as a steady quarter-after-quarter compounding machine.
price stability
85 / 100
the stock itself has been calmer than the business model. low drama on the chart does not remove loan risk underneath.
risk rank
3
that translates to roughly middle-of-the-pack safety. not dangerous by default, not safe by reputation.
source: institutional data
Institutional activity
institutional ownership data for SFDL is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$34
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive